A Survey of the History and Current State of Credit Unions in the U.S.

Document Type

Article

Publication Date

1-1-2023

Identifier/URL

41589349 (Pure)

Abstract

A credit union is a unique non-profit cooperative financial institution that is owned and operated by its members, primarily serving the interest of its members by, among other, providing relatively low cost loans. This paper aims to trace the history of credit union movement and the evolution of legal and institutional framework that has affected the establishment, development, and operation of various types of credit unions in the U.S. The paper also examines some of empirical studies of the financial performance of the institutions and challenges facing American credit unions.

DOI

10.35412/kjcs.2022.40.4.005

Link to Full Text


Share

COinS